Huntington Ingalls Inds Inc Stock Price, News & Analysis

HII (NYSE: HII), a global all-domain defense provider, has announced that Steve Powell will become the company's next corporate vice president and treasurer, effective Jan. 1, 2025. Powell, currently HII's assistant treasurer for banking and capital markets, will succeed D.R. "Rick" Wyatt, who is retiring after over 40 years of service. In his new role, Powell will be responsible for various financial aspects of the company, including banking, corporate finance, cash management, insurance, and pension trust asset management.

Powell has been with HII's Treasury Department since 2011 and previously worked at Lockheed Martin and Martin Marietta. He holds a bachelor's degree in chemistry with concentrations in finance, business & economics from St. Lawrence University and an MBA from Virginia Tech. Powell will report directly to Executive Vice President and CFO Tom Stiehle.

HII's Mission Technologies division has delivered two REMUS 620 uncrewed underwater vehicles (UUVs) to the National Oceanic and Atmospheric Administration (NOAA) for enhanced ocean floor mapping. The delivery comes less than 24 months after the REMUS 620's unveiling in November 2022. These medium-class UUVs are designed for long-distance operations with above- and below-water capabilities.

The NOAA REMUS 620 vehicles feature customized enhancements including a synthetic aperture sonar module, additional energy module, and auxiliary equipment. NOAA plans to use them for high-resolution mapping in the Gulf of Mexico, focusing on restoring seafloor habitats damaged by the 2010 Deepwater Horizon oil spill.

HII reports strong market interest in the REMUS 620, with over 600 REMUS UUVs sold globally across 30+ countries. Notably, 90% of vehicles delivered in the past 23 years remain operational, showcasing the platform's durability and upgradability.

HII's Mission Technologies division has announced the appointment of Amy Boyette as vice president of strategy and integration for its Nuclear and Environmental Services (NES) business group. Boyette, a former Department of Energy (DOE) official with over 30 years of experience in environmental management and National Nuclear Security Administration operations, will focus on evaluating growth opportunities and providing strategic direction in competitive markets. She will also be responsible for building stakeholder relations in communities where NES and its partners operate.

Prior to joining HII, Boyette served as director for the Office of External Affairs at the Savannah River Site, a key DOE complex. Her expertise is expected to propel HII's nuclear business forward as it expands into new markets. HII supports the DOE's national security mission through site management and legacy waste cleanup across the country.

HII (NYSE: HII) hosted Acting Secretary of Labor Julie Su and Secretary of the Navy Carlos Del Toro at its Newport News Shipbuilding Apprentice School. The event focused on workforce development and national security. The Department of Labor presented $6 million in Apprenticeship Building America grants to the Hampton Roads Workforce Council (HRWC) to enhance employment pathways in the region.

The Apprentice School, funded by HII, offers tuition-free apprenticeships in 19 trades and 8 advanced programs. It is accredited to offer associate's degrees in maritime technology and provides opportunities for higher education through partnerships with local colleges and universities. The school plays a vital role in constructing advanced U.S. Navy aircraft carriers and submarines at Newport News Shipbuilding.

HII's Ingalls Shipbuilding division announced the departure of the San Antonio-class amphibious transport dock ship Richard M. McCool, Jr. (LPD 29) from its facility in Pascagoula, Mississippi. The ship is headed to its commissioning site in Pensacola, Florida. LPD 29 is the 13th San Antonio-class ship delivered by Ingalls and the final Flight I transition ship before the company moves to production of the LPD Flight II line.

Notable features of LPD 29 include the installation and activation of the Enterprise Air Surveillance Radar, SPY-6(V)2, which provides increased target engagement capability and overall ship self-defense. Ingalls currently has two Flight II LPDs under construction and was awarded a contract for a third in March 2023.

HII's Mission Technologies division has been awarded a task order valued at over $30 million to support the U.S. Air Force's efforts to recapitalize and sustain its fleet of presidential and executive aircraft. The contract, administered by the U.S Air Force Life Cycle Management Center's Presidential and Executive Airpower Directorate, will involve HII's team in Dayton, Ohio, performing tasks to enhance the reliability and supportability of VIP transport aircraft.

HII will analyze critical aircraft systems and inform equipment improvements for presidential and executive airpower sustainment. The task order was awarded under the Department of Defense's Information Analysis Center (IAC) Multiple Award Contract (MAC) vehicle, with most of the work to be performed at Wright-Patterson Air Force Base in Ohio.

HII (NYSE: HII) has secured a $209 million contract through its Mission Technologies division to support the U.S. Air Force's fighter and bomber weapons systems development and sustainment. The five-year task order involves research and analysis to aid the USAF's weapons systems development, sustainment, and long-term strategy. HII will support the Air Force Fighters and Advanced Aircraft and Bomber Directorates, ensuring effective operation across various warfighting scenarios.

The contract, awarded by the Department of Defense Information Analysis Center (IAC), will see work performed at Wright-Patterson, Tinker, Robins, and Hill Air Force bases. This initiative aims to enhance the Defense Technical Information Center repository and contribute to R&D and science and technology advancements.

HII's Ingalls Shipbuilding division awarded National Merit Scholarships to four children of Ingalls shipbuilders. The scholarships, valued between $2,000 to $2,500 each, are renewable for up to four years of college undergraduate study. Since 2013, Ingalls has provided 44 awards totaling over $350,000 to shipbuilders' children.

The 2024 scholarship recipients include Tracy Le (Microbiological Sciences and Immunology), Madison Eubanks (Biochemistry), Harrison Hinkel (Dentistry), and Tori Williams (Pharmacy). To be considered, finalists had to take the SAT/PSAT, complete an essay, and provide information about extracurricular activities. The selection criteria included being a child of an Ingalls employee and residing in a community served by Ingalls.

HII's Enlighten subsidiary has expanded operations with a new office in Columbia, Maryland, enhancing support for big data operations and national security capabilities. The expansion strengthens Enlighten's presence in a region known for technological innovation and talent. The company highlighted multiple high-value contracts with the U.S. Department of Defense and other federal agencies, focusing on cyber defenses, secure communication networks, and data analytics solutions.

Enlighten demonstrated its newest big data analysis offering, IONIC, a cloud-based platform supporting data normalization, enrichment, ingestion, and storage from various sources. IONIC's core applications aid analysts in quickly identifying key information, while specialized analytics driven by AI and ML deliver tailored results. The expansion aims to better serve clients, drive innovation, and contribute to the local community through STEM education initiatives and talent development programs.